Salama’s subscription to rights shares ends today

21/11/2023 Argaam
Logo ofSalama Cooperative Insurance Co.

Logo of Salama Cooperative Insurance Co.

Salama Cooperative Insurance Co.’s subscription to rights shares ends today, Nov. 21.

 

Rights trading period ran from Nov. 9-16, to increase the company’s capital from SAR 100 million to SAR 200 million through offering 10 million shares at SAR 10 each. 

 

Subscription period also started on Nov. 9.

 

Capital Increase Details

Current capital

SAR 100 mln

Current number of shares

10 mln

Capital increase (%)

100%

Capital after increase

SAR 200 mln

Number of shares after increase

20 mln
 

Rights Issue Details

Offered shares

10 mln

Offer price

SAR 10

Issue size

SAR 100 mln

Rights subscription

Nov. 9-21, 2023

Rights trading

Nov. 9-16, 2023

Reason

Supporting plans and boosting solvency

Record date

Nov. 5, 2023

Eligibility ratio

Each shareholder will be granted one right for every share held

Rights issue proceeds

Bank deposits

SAR 58.7 mln

Bonds & Sukuk

SAR 30 mln

Offering fees and costs

SAR 11.3 mln

Total

SAR 100 mln
 

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